Danny Ortiz and Angela Hufford are partners, and each has a capital balance of $33,000. To gain admission to the partnership, Derek Peters pays $19,000 directly to Ortiz for one-half of his equity. After the admission of Peters, the total partners' equity in the records of the partnership will be?

Answer rating: 100% (QA)

Certainly let me explain the calculation step by step 1 Initially Danny Ortiz had a capital balance ... View the full answer